Verizon and Fixnetix team for low latency data service
04 October 2007 | 1453 views | 0
Verizon Business and Fixnetix, a leading European provider of ultra-low latency market data, today announced an agreement that will provide financial institutions with market- and time-sensitive data at ultra high speed.
Verizon Ethernet Private Line will power Fixnetix's iX-Direct service to deliver financial market data direct at low latency, enabling its customers to make quick decisions on financial market transactions based on the latest available information.
Fixnetix customers depend on being able to quickly and securely receive up-to-date financial and market information to maintain their competitive advantage. The company has high-speed, direct connections to all the major exchanges in Europe including Eurex, Euronext, IDEM, Liffe, the London Stock Exchange, Madrid, MEFF, Milan, SWX, Virt-X and Xetra, and provides at-source co-location hosting to minimise delivery times even further.
By implementing Verizon Ethernet Private Line services to power iX-Direct, Fixnetix benefits from a secure, high-bandwidth global communications infrastructure offering connectivity at speeds of up to 1 gigabit per second. Fixnetix has always prided itself on the speed and reliability of its data delivery services, and this implementation will ensure that Fixnetix is able to continue to optimise its overall customer service and provide a firm foundation to support planned future expansion.
"With the Markets in Financial Instruments Directive (MiFID) coming into effect this year, financial institutions can no longer afford to have a data provider that drops information as soon as there is a spike in trading activity because their lines can't take the volume," says Hugh Hughes, chief executive officer of Fixnetix. "The ultra-low latency bandwidth offered by Verizon Business, combined with our ability to deliver data in multiple formats with sub-millisecond data transformation, means our feeds don't slow down. As a consequence, we don't drop data, our customers receive every last bit of vital information, and they get it at the lowest possible latency."
John Killian, president, Verizon Business, said, "Security, reliability and speed are essential in the fast-paced world of financial services. The right communications infrastructure can make all the difference. We are pleased to enjoy a close working relationship with Fixnetix and to be able to work with the company to help it realise many of its business goals as it continues to expand."